Toronto-based TMX Group Ltd. announced on Tuesday that Alain Miquelon, president and CEO of the Montreal Exchange (MX) and group head of derivatives, has left the organization to pursue other opportunities.
Luc Fortin, managing director, derivatives trading, will serve as acting interim president and CEO of the MX. Fortin joined the MX this past June, following a 25‐year capital markets career with a specialty in leading client-facing teams in fixed income and derivatives. Fortin will report to Lou Eccleston, TMX Group’s CEO.
“On behalf of the TMX board of directors and the entire organization, I would like to thank Alain for his significant contribution to MX’s success and the work he has done to help advance MX’s strong domestic and international reputation over the years,” says Lou Eccleston, in a statement.
Miquelon joined MX as executive vice president, chief financial officer and head of strategy in 2007 and oversaw the successful integration of MX and TSX Group, which was completed in 2008. He was named president and CEO of MX in 2009.
“I want to thank TMX Group for giving me the opportunity to lead the derivatives group during the exciting development and growth period we’ve seen in the derivatives industry in the past seven years,” says Miquelon in a statement. “I have the utmost confidence that the leadership team in place will deliver on the growth opportunities that the marketplace will offer MX in the coming years.”